Target CEO Brian Cornell dismisses shareholders’ concerns over bathroom policy, $10 billion lost
Target’s CEO Brian Cornell refused to change course when confronted by shareholders who are alarmed by the $10 billion in losses since the company announced its transgender, open-door, gender fluid bathroom policy.
Cornell was pressed about the financial impact of the policy by investors, including Justin Danhof, the director of the National Center Free Enterprise Project.
“Target’s shareholder meeting was appalling from beginning to end,” Danhof said in a press release after the meeting.
Liberal corporate leaders such as Cornell throw around the words ‘diversity’ and ‘inclusion’ so much they are starting to lose their meaning. In addition to my question, two other shareholders also expressed concern over the company’s offensive bathroom policy. Cornell just kept repeating the same vacuous lines about diversity and inclusion. He doesn’t seem to get that he has offended the sensibilities of millions of Americans.
New Flush Target Ad screenshot
Cornell confirmed at the annual meeting of investors that the company intend to stick with the April 19 transgender policy and he even insisted there has been no financial repercussions, despite the Wall Street loss in the months since the policy was announced.
Danhof asked why Cornell claimed via the media that his pro-transgender policy is just like ordinary civil rights for black, and asked if Cornell thought everyone who stood against the store’s policy were like racists and were bigots.
Cornell wouldn’t answer the question, prompting Danhof to say, “So, by implication, of course he thinks everyone that disagrees with him is a bigot. Otherwise he would have said no.”
Danhof explained his exchanges with Cornell with Breitbart.
My question dated back to last month when Cornell defended the company’s position and policy by comparing what they’re doing with their bathrooms to their 1960s era use of black models by claiming it wasn’t well received then. Well, that is shocking and appalling. What he is doing is making a moral equivalency of those who think his bathroom policy is outrageous and offensive today, so to those who oppose his bathroom policy he is basically comparing them to racists from the 1960s. And basically labeling everybody as a bigot.
“But from the announcement and from the last time I checked the stock price the stock had fallen. Target’s stock price was $83.98 the day of the announcement. On Monday, it was $68.81. That’s an 18 percent drop in seven weeks.”
“That’s a whopper!” Danhof wrote on the National Center website. “For Target to deny any correlation between its announcement and its tanking stock is ignorance of the highest form. Offending millions of investors and consumers, then denying the financial implications, borders on fiduciary negligence.”
Danhof told Breitbart.
Even if there’s other financial issues going on in the company, to claim that there’s zero correlation between that announcement and an 18 percent stock drop in seven weeks, that borders on fiduciary negligence. It just goes to show that they’re perfectly willing to lie to their investors. It’s shocking that they would claim that there’s no correlation there.
photo: TaxRebate.org.uk
Sell your stock holdings in Target if you have scruples, because clearly you are investing in a company that does not care about women, children or their shareholders.
[…] for their support and battled intense protests and boycott threats from conservatives. Now in 2016, Target is under fire for the “bathroom policy” which leaves the door open for anyone to use any bathroom of their […]